Cellectar Biosciences (NASDAQ:CLRB) Receives Outperform Rating from Oppenheimer

Oppenheimer restated their outperform rating on shares of Cellectar Biosciences (NASDAQ:CLRB) in a report released on Friday morning, Benzinga reports. Oppenheimer currently has a $14.00 target price on the biopharmaceutical company’s stock.

Separately, StockNews.com upgraded Cellectar Biosciences to a sell rating in a research note on Thursday, September 26th.

Cellectar Biosciences Price Performance

NASDAQ CLRB opened at $2.08 on Friday. The firm has a market capitalization of $74.57 million, a price-to-earnings ratio of -0.68 and a beta of 0.99. The company has a 50 day simple moving average of $2.08 and a 200-day simple moving average of $2.66. Cellectar Biosciences has a 52-week low of $1.82 and a 52-week high of $4.45.

Institutional Trading of Cellectar Biosciences

Large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd raised its holdings in Cellectar Biosciences by 432.4% during the second quarter. XTX Topco Ltd now owns 63,304 shares of the biopharmaceutical company’s stock valued at $158,000 after buying an additional 51,413 shares in the last quarter. AIGH Capital Management LLC raised its stake in shares of Cellectar Biosciences by 8.2% in the 2nd quarter. AIGH Capital Management LLC now owns 3,036,187 shares of the biopharmaceutical company’s stock valued at $7,590,000 after acquiring an additional 231,270 shares in the last quarter. Rosalind Advisors Inc. lifted its holdings in Cellectar Biosciences by 335.4% in the 2nd quarter. Rosalind Advisors Inc. now owns 2,705,616 shares of the biopharmaceutical company’s stock worth $6,764,000 after purchasing an additional 2,084,138 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Cellectar Biosciences by 146.7% during the first quarter. Vanguard Group Inc. now owns 1,191,081 shares of the biopharmaceutical company’s stock worth $4,741,000 after purchasing an additional 708,191 shares during the period. 16.41% of the stock is owned by institutional investors.

Cellectar Biosciences Company Profile

Cellectar Biosciences, Inc, a clinical biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs for the treatment of cancer. Its lead phospholipid drug conjugate (PDC) candidate is CLR 131 (iopofosine I-131), which is in Phase 2 clinical study for patients with B-cell malignancies; Phase 2a clinical study for patients with relapsed or refractory (r/r) Waldenstrom's macroglobulinemia cohort, r/r multiple myeloma (MM) cohort, and r/r non-Hodgkin's lymphoma cohort; Phase 1 clinical study for r/r pediatric patients with select solid tumors, lymphomas, and malignant brain tumors; and Phase 1 clinical study for r/r head and neck cancer.